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Poland’s balance of payments in November 2017

Date: 15.01.2018

NBP data: In November 2017, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 6.6bn), in the secondary income account (PLN 0.7bn), and in the trade in goods account (PLN 0.5bn) and a deficit in the primary income account (PLN 6.8bn). The total balance of the current and capital account in the month under analysis was positive and amounted to PLN 1.8 billion.

Preliminary data on Poland’s BoP for November 2017, released by Narodowy Bank Polski on 15 January 2018, show a surplus on the current account amounting to PLN 1.0bn. In the corresponding month of 2016, it was negative and stood at PLN 0.4bn.

Exports of goods stood at PLN 77.2bn and were PLN 7.5bn higher (i.e. 10.8%) than a year earlier. Imports of goods rose by PLN 8.1bn (11.8%) to PLN 76.7bn. As a result, the balance of trade in goods was positive and amounted to PLN 0.5bn. In the corresponding month of 2016 it was also positive and stood at PLN 1.0bn.

Typically, the services balance was positive – it amounted to PLN 6.6bn. Credits on the export of services stood at PLN 21.0bn, which represented an increase of PLN 2.8bn (15.3%) as compared with the November 2016 figure. Debits stood at PLN 14.4bn, having increased by PLN 1.4bn (11.2%) on the corresponding month of 2016.

The primary income account was negative and amounted to PLN 6.8bn. In the corresponding month of 2016, it was also negative and stood at PLN 6.0bn. The primary income account deficit was mainly the result of the negative investment account (PLN 5.7bn).

See: Balance of payments statistics

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